Wang Zongnan Is Suspected of Accepting Bribes, Embezzling Public Funds

BEIJING—Chinese officials have launched an investigation into a former chairman of the Chinese owner of Weetabix breakfast cereal amid an anticorruption campaign that is spreading across business sectors in the country.

Shanghai prosecutors said Monday that businessman Wang Zongnan is suspected of accepting bribes and embezzling public funds while serving as general manager of Shanghai-listed, state-owned retail chain Shanghai Friendship Group Inc., and Hong Kong-listed Lianhua Supermarket Holdings Co., according to...